Ala. Admin. Code r. 635-X-10-.01

Current through Register Vol. 43, No. 1, October 31, 2024

Section 635-X-10-.01 - Breach Of Agreement To Repay With Service

(1) In the event a recipient discontinues to fulfill the terms of his agreement to pay-with-service (635-X-9-.04), he/she shall be obligated to repay the cash balance of his/her loan which did not receive repayment-with-service credit.

(2) Interest will accrue at the rate to be determined by the Board on the unpaid balance of the loan beginning at the date the repayment-with-service agreement was breached.

(3) The unpaid balance must be paid in annual payments approved by the Board. The final payment becomes due no later than twelve (12) years after the recipient entered the practice of optometry.

Ala. Admin. Code r. 635-X-10-.01

Filed September 7, 1984. Amended: Filed February 4, 2014; effective March 11, 2014.

Author: J. Matt Bledsoe, Mark Martin

Statutory Authority:Code of Ala. 1975, §§ 34-22-60, etseq.